Tag Archives: underreporting

Who’s that knocking at the door?

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OK. So, everyone has finally filed their 2018 taxes.

What?  You haven’t?  Well, if you received a W-2 or a 1099, that is the absolutely most likely method to find yourself a target for the IRS.   Because the system is designed to match every 1099 and W-2 filed with a tax return.  And, if you received a 1099 showing you earned $ 20,000 in income- and you haven’t filed your taxes, you can expect a bill from the IRS for at least $ 4000.  (You would receive a CP2000 Automated Underreporter [AUR] Notice from the IRS.)  Not that you owe that much- because you probably have expenses to counterbalance that revenue – but because the IRS wants to scare the living daylights out of you.

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